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99105969
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Last modified
3/13/2012 6:03:34 PM
Creation date
10/20/2005 11:39:46 PM
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DEEDS
Inst Number
99105969
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99- 1�5969 <br /> Notwithstanding the provisions of subparagraph (i) above, but on the condition that: (A) <br /> no Event of Default (or event which, with the giving of notice and/or expiration of any � <br /> cure period would constitute an Event of Default) shall exist hereunder, (B) any grantee <br /> or transferee of the Trust Property shall assume in writing all of the obligations of Trustor <br /> hereunder and under the Note, (C) Beneficiary shall be provided with all copies of <br /> documentation relating to such sale or transfer, all in form acceptable to Beneficiary, (D) <br /> Trustor shall not be released or discharged of any act of Trustor's duties, obligations, <br /> liabilities and responsibilities hereunder or under the Note, and (E) the prior written <br /> consent of the Beneficiary is obtained, the Trustor shall have the right to convey and <br /> transfer all (but not less than all) of the Trust Property to the grantee or transferee <br /> approved in writing by the Beneficiary upon receipt by the Beneficiary of an amount <br /> equal to one percent (1%) of the then principal Note balance and fulfillment of the above <br /> conditions. <br /> 26. Acceleration of Debt: Foreclosure. Upon the occurrence of any Event of <br /> Default, or any time thereafter, Beneficiary may, at its option, declare all the Indebtedness <br /> secured hereby immediately due and payable and the same shall thereupon bear interest at <br /> the default rate, if any, set forth in the Note, or otherwise at the highest rate permitted by <br /> law, and, irrespective of whether Beneficiary exercises said option, it may, at its option <br /> and in its sole discretion, without any further notice or demand to or upon Trustor, do one <br /> or more of the following: <br /> (a) Beneficiary may enter upon, take possession of, manage and operate <br /> the Trust Property or any part thereof; make repairs and alterations <br /> and do any acts which Beneficiary deems proper to protect the <br /> security thereof, and either with or without taking possession, in its <br /> own name, sue for or otherwise collect and receive rents, issues and <br /> profits, including those past due and unpaid, and apply the same, less <br /> costs and expenses of operation and collection, including reasonable <br /> attorney fees and Beneficiary's costs, upon the Indebtedness secured <br /> hereby and in such order as Beneficiary may determine. Upon <br /> request of Beneficiary, Trustor shall assemble and shall make <br /> available to Beneficiary any of the Trust Property which has been <br /> removed. The entering upon and taking possession of the Trust <br /> Property, the collection of any rents, issues and profits, and the <br /> application thereof as aforesaid, shall not cure or waive any default <br /> theretofore or thereafter occurring, or affect any notice of default or <br /> notice of sale hereunder or invalidate any act done pursuant to any <br /> such notice. Notwithstanding Beneficiary's continuance in possession <br /> or receipt and application of rents, issues or profits, Beneficiary shall <br /> be entitled to exercise every right provided for in this Deed of Trust <br /> or by law upon or after the occurrence of an Event of Default, <br /> including the right to exercise the power of sale. Any of the actions <br /> referred to in this paragraph may be taken by Beneficiary at such <br /> time as Beneficiary may determine without regard to the adequacy of <br /> any security for the Indebtedness secured hereby. <br /> 11 <br />
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